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15 West 39th Street

Guy Conti Leases 6,200 SF Office Space At 15 West 39th Street In NYC
LEASEDOffice

Guy Conti Leases 6,200 SF Office Space At 15 West 39th Street In NYC

15 West 39th Street

$35

$35/SF

Building Size

6,200 SF

Asset Type

Office

Closing

Dec 8, 2022

AI

15 West 39th Street, an office property located in New York City, has been leased in a recent transaction. The landlord, Northern Star Realty, has leased the space to Guy Conti. The transaction was facilitated by Christopher Okada from Okada & Company, as well as Thomas Capuano and Cole Chartash from Cushman & Wakefield. The leased space measures 6,200 square feet, and the asking rent was $35 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Lease
  • Address: 15 West 39th Street
  • Market: New York City
  • Landlord: Northern Star Realty
  • Tenant: Guy Conti
  • Brokers: Christopher Okada - Okada & Company; Thomas Capuano & Cole Chartash - Cushman & Wakefield
  • Square Footage: 6,200
  • Asking Rent: $35/ft.

In the midst of the COVID-19 pandemic, the leasing activity in Midtown Manhattan has remained strong. Despite concerns about the future of office space and the overall economy, this deal represents another success in the New York City market. The brokers involved, including Christopher Okada, Thomas Capuano, and Cole Chartash, have been instrumental in navigating these challenging times and finding opportunities for their clients. The outcome of this transaction demonstrates the resilience of the office sector and the value it continues to provide.

NOTE FROM BROKER: Since the pandemic hit, we leased over 300,000 SF of office space in Midtown Manhattan. They said NYC was dead. They said office is dead. They said we're heading into a nasty recession & housing crash. Only time will tell which of these are actually true, but until then... ALWAYS BE CLOSING... EVERY DEAL COUNTS... BETTING ON NYC!

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 deals

Broker
NR
Northern Star RealtyLandlord

Guy Conti

Tenant

2 deals

Tenant

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93